Fastening devices such as bolts and lug nuts are used universally to fasten and secure parts together. For instance, a bolt or lug nut may be used to secure a wheel onto the hub of a vehicle. In order to remove the wheel from the vehicle each individual lug nut must be released from the threaded stud so as to free the wheel from the vehicle. These lug nuts are small and may be easily misplaced. Accordingly it is desirable to have a tool which is configured to not only remove lug nuts but also to store the lug nuts for later application onto a threaded stud.